Broadband investment "vital" for economic success

Broadband is one area where government support is "vital", according to the National Endowment for Science, Technology and the Arts (NESTA).

The organisation suggests sectors including digital media, healthcare and green technology can help the UK to beat the recession.

Speaking ahead of this week's Budget, NESTA said that these sectors represent areas for continued growth and failure to invest could prove costly.

Without support in these areas, the economy could lose £44 billion in revenue each year, figures from the group suggest.

Jonathan Kestenbaum, Chief Executive, said "Previous industrial interventions in the 1960s and 1970s ignored demand and focused on unsuccessful attempts to pick winning firms rather than new growth areas.

"The government must invest in areas where future demand will drive next generation technologies".

The Budget, announced on Wednesday (April 22nd), did provide a boost for the broadband sector, with funding revealed for the Digital Britain plan and for South Yorkshire's planned next-generation broadband network.

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